Section 27-22-63

Failure to provide notice or to release insurance proceeds.

A lender who fails to provide notice as required by Section 27-22-61 or Section 27-22-62 or to release insurance proceeds as required by Section 27-22-62 shall pay to the insured interest at the rate of 10 percent per year on the proceeds held by the lender.

(Act 2019-460, §4.)